Pharmacist Gang (09885) launches a new round of “100 million yuan repurchase plan” to continuously optimize capital structure and enhance shareholder returns

The Zhitong Finance App learned that on August 20, Pharmacist Bang (09885) issued an announcement. In order to further optimize the capital structure and enhance shareholder returns, the company plans to use a repurchase budget of up to HK$100 million to repurchase shares in the open market in due course. The specific implementation will advance depending on market conditions, and the repurchased shares will be cancelled in due course.

This repurchase is in line with previous rounds of repurchases. In May 2025, Pharmacist Bang initiated a round of repurchases of 100 million yuan. Within two months, 5.63 million shares were continuously repurchased, with a total repurchase amount exceeding HK$44.36 million. The shares were all intended to be cancelled, and shareholder returns continued to be realized. From March 23 to July 21 this year, Pharmacist Help once again used HK$159 million to buy back over 35 million shares through the company's trust, accounting for about 5.1% of the total share capital as of June 30.

In addition, the company's directors and management have also increased their shareholding several times. Since March 2026, Zhang Buzhen, Chairman and CEO of Pharmacist Bang, has recently increased his shares in the open market 5 times in a row. According to the latest records, it increased its holdings of the company's common shares by 500,000 shares through related party MIYT Holdings Limited on May 29, 2026, at an average price of HK$3.49 per share. After this increase in holdings, Zhang Buzhen's shareholding ratio rose to 22.92%.

Behind the multiple rounds of repurchase increases in holdings is the firm confidence of the company's management in long-term value: the company has abundant cash flow and steady operation. When the stock price is relatively undervalued, it is cancelled with real money. While increasing earnings per share, it also sends a value signal to the market through action.

The motivation for buybacks comes from fundamentals. In the first half of this year, Pharmacist Help achieved operating income of 10.283 billion yuan, an increase of 4.5% year on year; net profit of 109 million yuan, an increase of 47.1% year on year. The platform has an average of 460,000 active buyers per month, and the payment rate is stable at 94%; the on-time delivery rate of self-operated orders reached 97.4%, and the cash cycle cycle is negative for 39.1 days. High margin business volume and digital links advance in depth, promoting continuous optimization of the profit structure. Looking forward to the future, the out-of-hospital medicine market continues to expand, and demand for primary care is being released at an accelerated pace. As the largest digital integrated service platform for the Chinese out-of-hospital pharmaceutical industry, the collaborative advantages of the platform and self-operation are expected to be further demonstrated. The “upward fundamental+valuation depression” attribute is prominent, and the release of medium- to long-term value is worth looking forward to.